WAY2BIT Launches Transparent Platform for Blockchain Users

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

In recent years, Internet-based content services such as game, entertainment, social network, and communities have experienced large-scale growth. However, with the opaque disclosure of information, the questionable safety of user data assets, and the high cost of transactions, user motivation and participation is decreasing. As a result, content providers have to bear the pressure of rising costs to ensure user loyalty.

Industry pain points:

Reliability, authenticity, transparency, and security of information;

Inability to guarantee the value of user data assets;

Fraud and excessive costs of intermediary transaction processes.

BORA uses blockchain technology to open up new possibilities by reorganizing existing centralized systems into a distributed structure of computer networks. With this new infrastructure and appropriate business mechanisms, data storage between end users and service providers can be delivered transparently, allowing providers to archive distributed ledgers without having to store data directly. This circumvents risks of data tampering present in modern-day enterprises and can help solve the above industry pain points. Moreover, BORA reduces costs by eliminating high gas fees while using the Ethereum network, encouraging the use of the platform.

The BORA platform is incentivized using the BORA Point (known as BORA Shell) Incentive Program, which provides benefits to all participants in the ecosystem by providing campaign rewards. This will lead to increased user retention and brand value, creating sustainability. The system is robust, and the inclusion of such a reward process will instill a sense of community among participants, driven by a token economy.

The current methods of content distribution are flawed, and it is difficult for users to verify that the data issued by providers is authentic. Transparency is lacking as content providers can control which information is recorded, stored, and shared as they control the servers and database. The accessibility of data by the providers can lead to falsification and modification of information without user consent.

The BORA team tends to mitigate the above issues and build a formidable brand by working to build a platform which solves transparency issues among content providers, especially those in the gaming industry. BORA will provide development toolkits to support and encourage developers in the ecosystem, and unlike traditional platforms, there will not be any entry fees.

The team believes that there is much room for growth in the industry, and with the BORA platform, they will build an ecosystem that promotes content circulation within a decentralized network that grows with the advancement of the blockchain technology.